Shriram General Insurance ... vs Malatibai Sampat More And Ors
2021 Latest Caselaw 2982 Bom

                                                                        5-IA-ST-909-2021.doc


              Shailaja
                               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                             CIVIL APPELLATE JURISDICTION
                                INTERIM APPLICATION [STAMP] NO.909 OF 2021
                                                          IN
                                         FIRST APPEAL [STAMP] NO.908 OF 2021


              Shriram General Insurance Company Ltd. ]                 Applicant
                          Vs.
              Malatibai Sampat More and others.                   ]    Respondents
                                                .....
              Mr. Suryajeet P. Chavan i/b Mr. Pandit Kasar, for Applicant.

              None for the Respondents.
                                                         .....

                                                       CORAM : PRITHVIRAJ K. CHAVAN, J.

                                                       DATE    : 15th FEBRUARY, 2021.

              P.C.

1. Learned Counsel for the applicant seeks stay to the execution, operation and implementation of the Judgment and Award dated 13th January, 2020 passed by learned Chairman, M.A.C.T., Pune in M.A.C.P No.181 of 2014 by contending that the respondents-claimants have filed execution application before M.A.C.T, Pune.

2. The learned Counsel, on instructions, makes a statement that the entire amount of Award with accrued interest will be deposited in M.A.C.T, Pune within four weeks from today. Statement is accepted.

1 of 3 Shailaja S. Digitally signed by Shailaja S. Halkude

Halkude Date: 2021.02.16 17:24:05 +0530 5-IA-ST-909-2021.doc

3. In view of the statement made, there shall be ad-interim relief in terms of prayer clause (a).

4. It is made clear that if the amount as stated above, is not deposited within four weeks from today, ad-interim relief shall stand vacated, without further reference to the Court.

5. After depositing the amount under Award, the applicant shall inform the factum of deposit to the respondents-claimants within two weeks thereafter.

6. Learned Counsel for the applicant-insurer objects for withdrawal of the amount by the respondents.

7. The respondents are at liberty to withdraw 50% of the amount with accrued interest that would be deposited by the applicant-insurer before the concerned M.A.C.T upon furnishing an undertaking within one week that if the applicant-insurer succeeds in the appeal, they will return the amount with interest at such rate as would be directed by this Court depending upon the outcome of the first appeal.

8. If the respondents do not file an undertaking within the aforesaid period, the amount that would be deposited by the applicant-insurer shall be invested by the M.A.C.T in the fixed deposit of a Nationalized Bank for a period of one year and thereafter for one more year again after obtaining order from this Court.

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9. If 50% amount is withdrawn by the respondents, balance amount shall be invested by the M.A.C.T in a fixed deposit as stated above, in a Nationalized Bank.

10. The application stands disposed of.

[PRITHVIRAJ K. CHAVAN, J.]

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